Due to a 2007 act of Congress, veterans and active-duty military not in uniform can also render the military-style hand salute during the raising, lowering or passing of the flag. And yet we picked up $5.2 trillion just in the stock market. Possibly picked up the whole thing in terms of the first nine months.
Huh? To say this is a head-scratcher is an understatement. The stock market could reverse its gains and all of those profits could disappear, and the debt would remain at around $20 trillion. Shareholders and investors reap the rewards. The claim is incorrect on its face, but it does point to how the president views the economic interplay between the federal government and Wall Street. Consequently, debt is directly reduced when nations take in more money then they spend, a feat typically accomplished by raising taxes or cutting spending.
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While it's true that the federal debt increased under President Barack Obama, and it's true that the stock market has continued to see steady gains since Trump took office, there's no clear correlation between the two. To cut the debt, Congress has to spend less or raise taxes.
"A higher stock market encourages consumers and companies to spend more, which helps the overall economy", said Valliere of Horizon Investments.
This ceremony is one of the oldest traditions in the U.S. Army, which dates back to the Revolutionary War.
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In fact, the president wants to cut taxes and potentially add to the debt if spending cuts can not be found to offset those tax cuts.
The stock market and the national debt have, quite literally, no direct connection.
"They said - they lost the election - they sat in a room and they said, 'Wow, we look bad.'" Trump said. But under the Obama Administration that same index rose 235%.
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As Business Insider's Josh Barro theorized, it's possible that Trump was thinking about the national debt and the stock market in the same terms as one of his real-estate holdings-stocks are up in anticipation of future growth, which improves the government's hypothetical ability to service its debt.